Online payments provider Paysafe has extended its partnership with Fox Bet, to offer its digital payment services to the sport betting operator’s customers in Michigan.
Paysafe will introduce its Skrill digital wallet and paysafecard eCash products in the region, allowing bettors to safely deposit cash and gamble on sporting events.
The company has supplied payment solutions to Fox Bet’s parent organization, Flutter Entertainment, via its Betfair and PokerStars brands for over a decade. The Fox Bet brand currently offers Paysafe solutions to its customers in Colorado, New Jersey, and Pennsylvania.
Paysafe’s CEO, Philip McHugh, said: “We’re delighted to strengthen our partnership with Fox Bet. Americans are keenly embracing alternative payment methods, so integrating our best-in-class Skrill and paysafecard solutions, both specifically tailored to sports betting, will ensure that Fox Bet offers all the different ways that players want to pay when they play.”
Fox Bet will now offer customers the chance to wager on Michigan’s range of sporting events using Paysafe solutions, including NFL and NBA events. The development comes just as the state has lifted restrictions around outdoor capacity limits at sporting events.
Last month, Paysafe released its results for the first quarter of 2021, showing a $17.7m rise in revenue year-on-year to $377.4m, however the company also saw a total net loss of $49.0m for the period.